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Why is this machine always asking for the users fingerprints? Doesn't that break the anonymity of bitcoin?

by pedalpete 13y ago

lukerohde 13y ago
Not to mention that that is associated with a government ID and a photo. Why not just use a bank account...?
- pera 13y ago
  As betterunix said, Bitcoin is not anonymous (http://bitcoin.org/en/you-need-to-know http://bitcoin.org/en/you-need-to-know). It's like BitTorrent: many peers know your IP address and authorities can trace you with some help of your ISP, though you can use Bitcoin through Tor, but then the problem is how you obtain BTCs and how you spend them... anonymity is not trivial :) About your question: I'd many bad experiences with banks (probably I'm not alone), and payment processor (ie PayPal) are problematic too. I like Bitcoin because is in my point of view most secure and easiest way to transfer money, and also the technology behind it is brilliant.
paulgb 13y ago
My understanding is that it's to comply with money-laundering laws. They limit the size of the transaction per-day and per-person. I haven't bought bitcoins (online or through an ATM), but it seems any purchase of bitcoins from any electronic money transfer would have the same issue of breaking anonymity. I suppose there are ways to anonymize the funds once you have them.
- nwh 13y ago
  This is it really. There's a limit to the amount of cash they can do per person per day, and this is a way to ensure people don't go over the limit.
csomar 13y ago
I think they are trying to avoid fraud. Since they seem to be limiting to amount you can withdraw, they probably need some way to authenticate you.
colinloretz 13y ago
It doesn't seem like the scanner is required for these machines and it does so using palm-vein scanning, not fingerprints. They are doing so to prevent any single user from withdrawing over a legal limit in a day. "If enabled, the Palm Vein Scanner can limit a user's daily transaction amount by taking a unique, anonymous (no fingerprints) infrared picture of a customer's blood vessels to assist in AML compliance."
- thaumasiotes 13y ago
  It's difficult to argue that information which is specifically used to uniquely identify you is "anonymous".
betterunix 13y ago
What anonymity of Bitcoin? Nothing in the design of Bitcoin protects anonymity, nor is it a clearly stated security goal.

Why is this machine always asking for the users fingerprints? Doesn't that break the anonymity of bitcoin?

lukerohde 13y ago

Not to mention that that is associated with a government ID and a photo. Why not just use a bank account...?

pera 13y ago
As betterunix said, Bitcoin is not anonymous (http://bitcoin.org/en/you-need-to-know http://bitcoin.org/en/you-need-to-know). It's like BitTorrent: many peers know your IP address and authorities can trace you with some help of your ISP, though you can use Bitcoin through Tor, but then the problem is how you obtain BTCs and how you spend them... anonymity is not trivial :) About your question: I'd many bad experiences with banks (probably I'm not alone), and payment processor (ie PayPal) are problematic too. I like Bitcoin because is in my point of view most secure and easiest way to transfer money, and also the technology behind it is brilliant.

paulgb 13y ago

My understanding is that it's to comply with money-laundering laws. They limit the size of the transaction per-day and per-person. I haven't bought bitcoins (online or through an ATM), but it seems any purchase of bitcoins from any electronic money transfer would have the same issue of breaking anonymity. I suppose there are ways to anonymize the funds once you have them.

nwh 13y ago
This is it really. There's a limit to the amount of cash they can do per person per day, and this is a way to ensure people don't go over the limit.

csomar 13y ago

I think they are trying to avoid fraud. Since they seem to be limiting to amount you can withdraw, they probably need some way to authenticate you.

colinloretz 13y ago

It doesn't seem like the scanner is required for these machines and it does so using palm-vein scanning, not fingerprints. They are doing so to prevent any single user from withdrawing over a legal limit in a day. "If enabled, the Palm Vein Scanner can limit a user's daily transaction amount by taking a unique, anonymous (no fingerprints) infrared picture of a customer's blood vessels to assist in AML compliance."

thaumasiotes 13y ago
It's difficult to argue that information which is specifically used to uniquely identify you is "anonymous".

betterunix 13y ago

What anonymity of Bitcoin? Nothing in the design of Bitcoin protects anonymity, nor is it a clearly stated security goal.